Los Lunas, NM Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Need a loan to purchase a Quiznos franchise? My Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Quiznos franchise requires some effort but others before you have been successful. In 2004, My Bank issued an SBA franchise loan to an entrepreneur in Los Lunas, New Mexico. Because Quiznos was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S
LOS LUNAS, NM 87031

SBA Loan Lender

MY BANK
19339 HWY 85
BELEN, NM 87002

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$157,500

Loan Approval from the SBA

Of the total $157,500 loan amount, the SBA guaranteed $118,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like My Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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